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To get a new car, a buyer has just accepted a loan on the following conditions: He will make a deposit of $ 5,000 at
To get a new car, a buyer has just accepted a loan on the following conditions:
He will make a deposit of $ 5,000 at the time of purchase.
It will pay $ 835 at the end of each month for 5 years, with the first payment being made one month after signing the agreement.
The loan rate will be 15%, capitalization monthly.
The value of the car at the time of purchase is:
A. 35 098,88 $
B. 38 588,59 $
C. 40 098,88 $
D. 28 775,84 $
E. 37 750,76 $
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